document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=971371>Question 971371</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long would it take to double your principle (Just any number) at an annual interest rate of 8% compounded continuously. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #593896 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=593896\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How long would it take to double your principle (Just any number) at an annual interest rate of 8% compounded continuously.<BR>\n" );
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document.write( "Formula for continuous compounding: A=Pe^rt, P=initial investment, r=interest rate, t=years, A=amt after years.<BR>\n" );
document.write( "For doubling the principal, A/P=2=e^rt<BR>\n" );
document.write( "e^rt=2<BR>\n" );
document.write( "take log of both sides<BR>\n" );
document.write( "rt*lne=ln2<BR>\n" );
document.write( "lne=1<BR>\n" );
document.write( "t=ln2/r==ln2/.08=8.66<BR>\n" );
document.write( "How long would it take to double your principle? approximately 9 years </SPAN>\n" );
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